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Suncor Energy Inc. (SU.TO)
Toronto - Toronto Real Time Price. Currency in CAD
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7,507 reactions on $SU.TO conversation
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Keystone Phase 1, 2, 3a and 3b are more then enough. XL isn't THAT big of a deal. Obama cancelled it already once back in 2015 and where was Suncor?? In and around $35 per share. It didn't react to the news... Don't listen to the fear mongering shorts who base their facts off of nothing. All XL provided was a stop through Baker Montana before getting to Steel City, which Phase 1 of the pipeline provides already. Goodnight longs!
The upcoming Q4 report may show Suncor making a substantial operational profit, due to the rising price of oil and related downstream refined product, however, the West Rose write-down may drag the bottom line into the red.
As Ben Graham once famously said: “In the short run, the market is a voting machine but in the long run it is a weighing machine.”
Why would Warren Buffet own Suncor as his only Canadian holding and accumulate during a pandemic? He follows Graham’s principle of value investing.
Suncor has a competitive moat, similar to the railways (we won’t see these businesses being built again in our lifetime). In fact Suncor’s market share will increase with many US producers going offline, and banks unwilling to fund them in the future.
The speed at which a business's success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate.
Is Suncor trading at fair value? Not even close. Is it frustrating? Yes but only in the short term.
Let us remember this stock has traded over $36 for the last 5 year average. Before the pandemic the BV was close to $30 CAD. Historically Suncor has traded at 1.2 to 1.5 BV. Even with the write downs that leaves us at $36 a share.
Will Suncor make M&A? Highly unlikely, they are comfortable with the assets they own going forward especially with a leaner operation with more production coming online.
Historically Suncor has paid out 55% of free cash flow towards dividends and share buy backs. Before the pandemic they’ve increased dividends for 18 straight years. Suncor management can easily reinstate the previous dividend (1.86) and pay down debt/buy back shares.
As we speak they are well on their way of fulfilling this obligation.
Suncor management had to act swiftly to cut the dividend. A once in a century event with this pandemic, the right thing to do is to bolster the balance sheet, cut costs, invest in their business, and later reap the rewards.
Buying Suncor today compared to 15 years ago? Yes the business has dramatically improved. They now own 1500 Petro Canada stations, Canadian Oil sands, Fort Hills, Firebag to name a few. They also own 4 refineries for upstream and downstream. They’ve also invested in autonomous trucks, carbon reductions and electric highways/renewables.
Suncor can make money in any environment, and will emerge stronger after this pandemic.
Suncor has a long life producing asset, that is the bloodline to the economy. The EIA still forecast oil demand to increase each year for the next decade. Suncor will still adapt to market changes with diversifying their operations to EV/renewables.
The only positive of this pandemic is buying my favourite Canadian O&G company far below its intrinsic value at a huge discount. Without the pandemic it would of taken me another decade to reach my goal.
I’ll sit back for the next few decades and continue to collect my growing dividends and early retirement.
Stay strong my friends and enjoy the ride !
This Keystone issue is no surprise and was expected by everyone.. Today’s news just gives more confirmation of Trans Mountain pipeline will be happening sooner anyway!
Keystone pipeline is a non event for Suncor. Business as usual, $30 end of February.
I just pumped gas at Petro Canada at the price of $1.10 per liter. Before the Pandemic gas price was $1.05 per liter. This is just unbelievable how the stock price is still at this level. Even though the shorts despise this stock, it's still a decent company and a no-brainer recovery play. We also have Buffett on our side. In the long run, it will pay off. GLTAL.
There are huge amount of options expiring coming Friday(January15th)
Mostly at 24CAD target price, and 19-20USD target price(also some close ranges)
It is almost 15M underlying shares(company warrant included)
It is the reason resisting very hard on 24CAD.
When we break that resistance to go to next week , then we will fly like a rocket!!!
BUY AS YOU CAN, THIS WEEK IS THE LAST CHANCE.
One more great article to wet your whistle on why you should buy Suncor NOW before The q4 results release in February. Alberta lifted oil curtailments in December previously put in place by NDP. To quote the article:
In a report, RBC analyst Greg Pardy said the end of the program is beneficial for producers including Cenovus, Suncor Energy Inc., Canadian Natural Resources Ltd. and others that have been forced to choke back production at their facilities.
Suncor, for example, has not been able to maintain full production at its Fort Hills oilsands mine after expanding its capacity to 194,000 barrels per day in 2018. Earlier this year, it shut down one of its two extraction trains because of low oil prices.
As my bro Kramer would say... GIDDY UP
its not new... beside SU ceo was pretty clear he puts his hopes in transmontain as he knew keystone was a long shot
rotation is starting soon into energy. lots of big money has been made in tech and other. sectors. so investors looking for beaten down sectors like oil.that still needs to run. I'm about to rotate heavily into energy
I know most don't do a lot of research on production, but oil sands is back to pre-covid by November. Suncor is gonna skyrocket.
Suncor's Firebag SAGD facility was the most improved in November, adding 79,000 bbl/day to average almost 200,000 bbl/day for the month.
All that were holding high to mid 20s when this dipped to 15$. Congrats everyone!
Trading on par with CNQ soon. We just need the quarter results and that dividend increase announcement kick. Easy 30% return! Patience pays well!
News today, USA will not be a oil producing country under new admin. Will import more crude from Canada.... SU going to 50$!!!!
Honestly, I had half my portfolio in ENB and the other half in SU. Just recently moved everything to SU, at this price I couldn’t resist, and will long 2021 as long as WTI is stable and above 35.
Cheers to a better 2021, investor friends
Options expire tomorrow. Should be good volume. Buy side volume!
Oil just crossed 53$ this morning. Can't believe Suncor is still trading at these depressed prices. Only matter of time before it goes up.
Report: Alberta going to ease restrictions starting from january 18
Suncor price target raised to C$30 from C$27 at Scotiabank
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